A short follow-up to my article on Tuesday,"Turn $3,500 into $42,000 with Black Gold."
Thursday, November 24, 2005 | Teeka TiwariRating:
A short follow-up to my article on Tuesday,"Turn $3,500 into $42,000 with Black Gold." -- By Teeka Tiwari (with an intro. by Dylan Jovine)
Dylan Jovine: Teeka's article on Tuesday drew a lot of comments from our readers interested in the potential profits that can come with investing in the OSX.
Specifically, many readers wanted to know the exact contract that Teeka like and was buying himself.
This is what he said when we spoke:
Teeka: "Before I tell you that let me once again say that for the vast majority of investors this is an inappropriate, high risk trade and you should be prepared to lose your entire investment if this does not work out.
This is a “no tears” trade for big boys and girls that can handle the volatility of index option trading. That being said, the options that I bought are the OSX June 160 calls (symbol: OSZ-FL) that are currently trading at $3,120 bid by $3,190 offer.
I don’t get cute on the execution price when I play these options and so I typically just pay the offer price. The June 160’s have about $2,300 in intrinsic value in them and about $900 in time value premium."
(Please let us know what you think about Teeka Tiwari's article.)
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Rate his article here »
“Let the Game Come to You.”
Teeka Tiwari
Chief Investment Officer
Point & Profit
